During 2017, Vaughn Manufacturing had sales on account of $758,000, cash sales of $315,000, and collections on account of $511,000. In addition, they collected $9,500 which had been written off as uncollectible in 2016. As a result of these transactions, the change in the accounts receivable indicates an increase of how much?
Q: Kiddy Toy Corporation needs to acquire the use of a machine to be used in its manufacturing process.…
A: The question requires the determination of the net present value of cash flows or the present value…
Q: I don't need ai answer accounting questions
A: Step 1: Definition of Adjusting Entry for Accrued InterestAdjusting entries for accrued interest are…
Q: Please help me this question general accounting
A: Step 1: Define Materials Price VarianceMaterials Price Variance is one of the direct materials…
Q: What is the equity at the end of the year on these general accounting question?
A: Step 1: Define EquityEquity represents the residual interest in the assets of a company after…
Q: Don't use ai given answer accounting questions
A: Step 1: Definition of MarkupMarkup is the amount added to the cost of a product to arrive at its…
Q: Share-based payment transactions settled in equity are ? a) Measured at grant date fair value b)…
A: Concept of Grant Date Fair ValueThe grant date fair value refers to the valuation of equity…
Q: Help
A: Explanation of Mathematical Equation Method: The mathematical equation method is a fundamental…
Q: Quick answer of this accounting questions
A: Step 1: Definition of Earnings Per Share (EPS)Earnings Per Share (EPS) is a measure of the…
Q: I need solution
A: Explanation of Owner's Equity:Owner's equity represents the owner's residual interest in a company's…
Q: Helen is a sole trader who runs a small bakery. She wants to prepare a cash budget for the first…
A: Detailed explanation: a.) In this scenario, Helen, a sole trader, runs a bakery, which uses a cash…
Q: Star Electronics has aging accounts receivable as follows: Current ($50,000), 1-30 days ($30,000),…
A: Concept of Aging Accounts ReceivableAging accounts receivable is a method used to categorize…
Q: Using the data given for Cases 1 below, and assuming the use of the average cost method, compute the…
A: Case 1 RecapGiven:Units started: 5,000 unitsUnits finished and transferred out: 3,000 unitsEnding…
Q: At the beginning of the recent period, there were 900 units of product in a department, 35%…
A: To calculate the equivalent units produced using the weighted average method, we include all units…
Q: How much must Johnson include in her gross income??
A: Step 1: Definition of Gross IncomeGross income includes all income received from any source unless…
Q: Need help with this general accounting question
A: Step 1: Define Variable CostingDetermining product cost using the variable costing technique is done…
Q: POsting in general account subject
A: Simply The total cost of units completed and transferred out is determined by the number of units…
Q: How many dollars worth of sales are generated?
A: Given values:Working Capital = $980Current Liabilities = $1,340Net Fixed Assets = $4,418Sales =…
Q: As of December 31, 2018, Blossom Company has assets of $41,800 and stockholders' equity of $20,400.…
A: Detailed ExplanationTo determine the liabilities for Blossom Company as of December 31, 2018, we use…
Q: What is the target price to obtain a 15% profit margin on sales?? General accounting
A: Calculation of Cost price per unitCost per unit = Total Cost / Units sold =…
Q: Quick answer of this accounting questions
A: Step 1: Definition of Net IncomeNet income is the total profit of a company after deducting all…
Q: Sherman, Inc. manufactures chainsaws that sell for $66. Each chainsaw uses $14 in direct materials…
A: Explanation of Direct Materials:Direct materials are the raw materials that are directly traceable…
Q: What will be the level of account receivables following the change ?
A: Step 1: Define Accounts ReceivableWhen the product is given to the purchaser on credit by the…
Q: Hello tutor provide answer this general accounting question not use ai and chatgpt
A: Step 1: Define Ending Inventory Under Variable CostingUnder variable costing, only variable…
Q: The Up-Towner has sales of $913,400, costs of goods sold of $650,300, inventory of $136,500, and…
A: Explanation of Inventory Turnover Ratio: This is a financial ratio that shows how many times a…
Q: Hi teacher please help me this question general accounting
A: Step 1: Define Work In ProcessWork in process is the goods that are in the process of completion.…
Q: Need help with this general accounting question please answer
A: Step 1: Define Ending Inventory Under Variable CostingUnder variable costing, only variable…
Q: General accounting
A: Step 1: Define Net SalesNet sale is a top-line item of the income statement which is the difference…
Q: Hi expert please give me answer general accounting question
A: Step 1: Definition of FICA TaxFICA Tax is a U.S. federal payroll tax that funds Social Security…
Q: Firm M has a margin of 9%, turnover of 1.6, sales of $800,000, and average stockholders' equity of…
A: Let use the formula of margin to compute the net income.Margin = Net income / Sales9% = Net income /…
Q: On the basis of the following data, what is the estimated cost of the merchandise inventory on…
A: Step 1: Calculate the Cost-to-Retail RatioThe cost-to-retail ratio is determined by dividing the…
Q: The following cost data relate to the manufacturing activities of Newberry Company during the just…
A: Explanation of Manufacturing Overhead Costs: These are indirect production costs that cannot be…
Q: its general account questions
A: Step-by-Step Solution1. Weighted-Average Method OverviewThe weighted-average method combines the…
Q: The traditional costing system is___.
A: Explanation of Direct Labor Hours: This is the amount of time workers spend directly working on…
Q: Mala Corporation uses direct labor hours in its predetermined overhead rate. At the beginning of the…
A: Explanation of Predetermined Overhead Rate:The predetermined overhead rate is a rate established at…
Q: Total trad receivables?
A: Step 1: Define Account ReceivableAccount receivable can be classified as a current asset which…
Q: TOKYO ended the year with an inventory of $935,000. During the year, the firm purchased $6,378,000…
A: Explanation of Cost of Goods Sold (COGS):Cost of Goods Sold (COGS) represents the direct costs…
Q: Sheffield Corp. determines that 60000 pounds of direct materials are needed for production in July.…
A: Step 1: Calculation of Direct Materials to be purchasedDirect Materials to be purchased = Desired…
Q: What is ROE on these financial accounting question?
A: Step 1: Define Return on EquityThe total return generated by the company during a financial year for…
Q: cost account. find answer. Asap.
A: To calculate the difference in net income between FIFO and LIFO, we first need to compute the cost…
Q: Financial accounting question
A: Step 1: Define Note payableNote payable is a promissory note that signifies the promise to pay a…
Q: Owner's equity for our company is $980,000, and total liabilities are $377,000. The company paid…
A: Explanation of Owner's Equity: Owner's Equity represents the owner's claim to the company's assets…
Q: Need help this question general accounting
A: Cash Cycle= Days Inventory Outstanding (DIO) + Days Sales Outstanding (DSO) - Days Payables…
Q: Rounded to two decimal places
A: To calculate EPS after repurchasing, we will follow these steps:Given:Old no. of shares outstanding…
Q: Fillings cost components per order ?
A: Let's use the high-low method to estimate the variable order filling cost component per order.Step…
Q: Answer this cost accounting question
A: Explanation of Direct Materials Price Variance:Direct materials price variance measures the…
Q: Financial Accounting
A: Step 1: Define Shareholders' EquityShareholders' Equity (also known as Stockholders' Equity)…
Q: Accounting. Answer. .
A: Step 1: Given informationBeginning inventory = $34,000Purchases during the period = $119,000Cost of…
Q: Don't use ai given answer accounting questions
A: Calculation of Gross Margin for SeptemberGross Margin = Sales - Cost of Goods Sold…
Q: Peabody Enterprises Peabody Enterprises prepared the following sales budget: Month Budgeted Sales…
A: To calculate the budgeted ending inventory for May, we need to determine the cost of goods sold…
Q: During its first month of operation, Peter's Auto Supply Corporation, which specializes the sale of…
A: If you have any clarifications (i.e., expand the explanation) or want different, expanded, or…
Please provide this question solution general accounting
Step by step
Solved in 2 steps
- During 2017, Vaughn Manufacturing had sales on account of $828,000, cash sales of $465,000, and collections on account of $651,000. As a result of these transactions, the change in the accounts receivable indicates an increase of how much? provide answerAccounting. The change in the accounts receivable indicates an increase of how much?Expert provide answers
- Utica Company's net accounts receivable was $250,000 at December 31, 2016, and $300,000 at December 31, 2017. Net cash sales for 2017 were $100,000. The accounts receivable turnover for 2017 was 5.0, What was Utica's total net sales for 2017?The comparative balance sheet of Sloan company reveal that accounts receivable (before deducting allowance) increased by $15,000 in 2016. During the same period, the allowance for uncollectible accounts increased by $2,100. If sales revenue was $120,000 in 2016nand bad debt expenses were 2% of sales, how much cash was collected from customers during the year? Please show the work.Barga Co. reported net sales for 2016 and 2017 of $665,000 and $742,000, respectively. Its year-end balances of accounts receivable follow: December 31, 2016, $63,000; and December 31, 2017, $89,000. a. Complete the below table to calculate the days' sales uncollected at the end of each year. (Round your "Days' Sales Uncollected" answer to 1 decimal place.) ok Days' Sales Uncollected Choose Numerator: Choose Denominator: Days Days' Sales Uncollected %3D Days' sales uncollected 2016: days %3D 2017: days %3D ces < Prev 4 of 4 Next
- Shiplt Corporation reported the following rounded amounts (in millions): 2016 2015 $ 5,455 (315) $ 5,160 (320) Accounts Receivable Allowance for Doubtful Accounts Accounts Receivable, Net of $ 5,140 $ 4,840 Allowance Net Sales (assume all on credit) $41,000 $39,500 Required: 1. Determine the receivables turnover ratio and days to collect for 2016. (Use 365 days in a year. Do not round intermediate calculations. Round your final answers to 1 decimal place.) Receivables Turnover Ratio Days to Collect times days 2. Do the measures calculated in requirement 1 represent an improvement (or deterioration) in receivables turnover, compared to 2015 when the turnover was 9.7? O Improvement DeclineAt the beginning of 2017, EZ Tech Company's Accounts Receivable balance was $143,000, and the balance in Allowance for Doubtful Accounts was $2,450. EZ Tech's sales in 2017 were $1,070,000, 80% of which were on credit. Collections on account during the year were $690,000. The company wrote off $4,000 of uncollectible accounts during the year. Identify and analyze the transactions related to the collections of cash during 2017. Activity Operating Accounts Cash Increase, Accounts Receivable Decrease Statement(s) Balance Sheet only How does this entry affect the accounting equation? If a financial statement item is not affected, select "No Entry" and leave the amount box blank. If the effect on a financial statement item is negative, i.e, a decrease, be sure to enter the answer with a minus sign. Balance Sheet Income Statement Stockholders' Net Assets = Liabilities + Equity Revenues – Expenses = Income…Need Help please let us
- Clark Company estimated the net realizable value of its accounts receivable as of December 31, 2016, to be $165,000, based on an aging schedule of accounts receivable. Clark has also provided the following information: • The accounts receivable balance on December 31, 2016 was $175,000.• Uncollectible accounts receivable written off during 2016 totaled $12,000.• The allowance for doubtful accounts balance on January 1, 2016 was $15,000. How much is Clark's 2016 bad debt expense? Answer: is 7,000 how do you get this?Please help me this questionProvide Answer